Allegion (NYSE:ALLE) Reaches New 12-Month High at $126.97

Allegion PLC (NYSE:ALLE) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $126.97 and last traded at $126.75, with a volume of 72000 shares traded. The stock had previously closed at $125.32.

Several research firms have recently commented on ALLE. Credit Suisse Group lowered Allegion from a “neutral” rating to an “underperform” rating and set a $114.00 price target for the company. in a research report on Monday, January 6th. Zacks Investment Research raised Allegion from a “sell” rating to a “buy” rating and set a $120.00 target price on the stock in a research report on Monday, October 28th. Imperial Capital upped their target price on Allegion from $105.00 to $116.00 and gave the company an “in-line” rating in a research report on Monday, October 28th. They noted that the move was a valuation call. Morgan Stanley upped their target price on Allegion from $105.00 to $121.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. Finally, Barclays lowered Allegion from an “overweight” rating to an “equal weight” rating and set a $125.00 target price on the stock. in a research report on Thursday, December 12th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Allegion presently has an average rating of “Hold” and a consensus target price of $118.13.

The company has a 50-day moving average of $123.31 and a 200-day moving average of $110.02. The company has a market capitalization of $11.59 billion, a price-to-earnings ratio of 28.20, a price-to-earnings-growth ratio of 1.98 and a beta of 1.18. The company has a current ratio of 1.90, a quick ratio of 1.30 and a debt-to-equity ratio of 2.08.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Thursday, October 24th. The scientific and technical instruments company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.14. The business had revenue of $748.30 million for the quarter, compared to analyst estimates of $737.64 million. Allegion had a return on equity of 69.28% and a net margin of 16.00%. The company’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.23 earnings per share. On average, research analysts expect that Allegion PLC will post 4.9 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Tuesday, December 17th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Monday, December 16th. Allegion’s dividend payout ratio is presently 24.00%.

In other news, CFO Patrick S. Shannon sold 20,421 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $115.43, for a total value of $2,357,196.03. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Tracy L. Kemp sold 17,860 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $115.84, for a total value of $2,068,902.40. Following the completion of the sale, the senior vice president now owns 14,770 shares in the company, valued at approximately $1,710,956.80. The disclosure for this sale can be found here. Insiders sold 65,288 shares of company stock worth $7,609,276 over the last three months. Corporate insiders own 0.77% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Sciencast Management LP purchased a new stake in shares of Allegion in the fourth quarter worth about $1,113,000. AE Wealth Management LLC purchased a new stake in shares of Allegion in the fourth quarter worth about $255,000. Resources Management Corp CT ADV purchased a new stake in shares of Allegion in the third quarter worth about $378,000. Millennium Management LLC boosted its stake in shares of Allegion by 233.5% in the third quarter. Millennium Management LLC now owns 672,229 shares of the scientific and technical instruments company’s stock worth $69,676,000 after buying an additional 470,669 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of Allegion in the third quarter worth about $2,513,000. Hedge funds and other institutional investors own 92.35% of the company’s stock.

About Allegion (NYSE:ALLE)

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers and controls; doors and door systems; electronic security products; electronic, biometric and mobile access control systems; exit devices; locks, locksets, portable locks, and key systems; time, attendance, and workforce productivity systems; and other accessories.

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